Best Practice Report

Using The Forrester Product Strategy Compass

Orienting A Product Toward Shared Business Goals Is Critical For Organizational Success

May 10th, 2021

Summary

Product management leaders understand that having a strategic vision for the organization’s product portfolio is critical for success. However, many aren’t confident in their ability to formulate a product portfolio strategy due to lack of clarity on what product strategy entails, weak executive alignment, and/or ambiguity around corporate direction. Product strategy begins at the business strategy level with business goal alignment. This enables product management leaders to ensure all portfolio offerings and associated product teams are working toward the same long-term business goals. In this report, we describe how to use the Forrester Product Strategy Compass to align product strategy with the overall business strategy.

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